Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor ligands and other neuroactive compounds. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for developing drugs targeting neurological disorders. Also employed in the preparation of agrochemicals and specialty heterocyclic compounds. Serves as a building block in organic synthesis, especially in reactions involving nucleophilic substitution or ester hydrolysis to generate carboxylic acid derivatives.